Moody's rates Edenor's notes B2/A1.ar

Moody's Investors Service said it assigned a B2/A1.ar rating to Empresa Distribuidora Norte SA's proposed offering of up to 150 million peso.

The outlook is stable.

Edenor's B2 rating reflects its expected financial performance and its regulatory risk profile, the agency said.

Ratings reflect Edenor's dominant position as the largest distribution utility in the domestic electricity market and its improved financial profile as a result of the recently approved tariff increases for Edenor's residential and non-residential consumers, the agency said.

Ratings also anticipate a continuation of volatile pricing and the possibility of a significant decline in its distribution margin as a result of lack of timely cost recovery, Moody's said.

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